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reverse mortgage
(redirected from Reverse Annuity Mortgages)

   Also found in: Financial, Wikipedia 0.01 sec.
reverse mortgage
n.
A mortgage in which a homeowner, usually an elderly or retired person, borrows money in the form of annual payments which are charged against the equity of the home.


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In addition, estimation results for consumption functions with respect to various kinds of wealth suggest that the annuitization of wealth because of the maturing of public pensions and the introduction of reverse annuity mortgages is likely to further decrease the savings rate in the future.
One of the nation's leading mortgage subservicers with more than 30 major banking clients, Wendover Financial Services was first to bring to market reverse annuity mortgages, shared servicing databases and shared servicing functions for the U.
Homeowners can also utilize reverse annuity mortgages (RAM) to finance LTC.
 
 
 
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